Latest news with #2024ResaleReport
New York Post
16 hours ago
- Business
- New York Post
Rebag and Amazon team up to redefine how shoppers buy pre-owned luxury
New York Post may be compensated and/or receive an affiliate commission if you click or buy through our links. Featured pricing is subject to change. Rebag, the fast-rising luxury resale powerhouse, announced its partnership with Luxury Stores on Amazon on June 10, bringing nearly 30,000 authenticated pre-owned luxury items — including Cartier, Chanel, and, Hermès — to the platform. Rebag joins the likes of myGemma and What Goes Around Comes Around — vintage luxury storefronts already established on Amazon — expanding the e-tailers growing secondhand fashion footprint. While Rebag is still smaller than resale heavyweights like The RealReal, which brought in $549 million in revenue in 2023, or Vestiaire Collective, valued at $1.2 billion, its tech-driven strategy continues to set it apart in a crowded luxury resale market. Advertisement The Amazon partnership enables Rebag to scale quickly without relying on high-overhead storefronts or thin-margin mass resale, thanks to its direct purchase model, making it a perfect pairing with Amazon's reach and speed. This strategic move also positions Rebag to compete more aggressively with larger resale players, essentially making rare luxury finds as easy as ordering toilet paper and a Birkin bag with a single click. A Birkin bag found on Rebag currently starts as low as $12,670, a relative steal compared to typical prices that range from $30,000 to well over $200,000 for previously owned models. The rollout follows Amazon's earlier luxury partnership with Saks, announced this spring, which brought ready-to-wear runway pieces from brands like Balmain and Dolce & Gabbana to the e-commerce giant. But where Saks brings new-season luxury, Rebag offers past-season, pre-loved investment pieces, making Amazon a one-stop destination for both ends of the fashion spectrum. Amazon may be quietly stacking its deck of secondhand power players, and the strategy is starting to show. The secondhand market is expected to grow 2.7 times faster than the overall global apparel market, according to ThredUp's 2024 Resale Report. The global resale demand is projected to reach $367 billion by 2029, making Rebag — and now Amazon — a key player in the future of fashion. Getty Rebag was founded in 2014 by Charles Gorra, a Harvard Business School graduate whose experience at Goldman Sachs, TPG Capital, and Rent the Runway uniquely positioned him to disrupt the luxury resale market. His blend of finance and fashion-tech acumen has helped build consumer trust and drive the brand's growth. 'Our partnership with Amazon creates greater access to luxury resale for customers across the U.S.,' Gorra told The Post. 'It introduces a new, convenient way to shop for luxury items with fast delivery and broadens Rebag's awareness and reach with the goal of making resale more accessible.' It's a unique shift: Amazon shoppers can now receive authenticated investment pieces through Rebag in just two days. Items can be searched by exact specifications and delivered straight to their door. Brick-and-mortar locations in New York, Los Angeles, Florida, and Bloomingdale's outposts have already made Rebag a familiar name among shoppers. But this Amazon partnership takes things to a whole new level, making rare luxury finds even easier to track down — and in their hands — in as little as two days. Given inflation's impact on the economic landscape, Rebag's entrance into Amazon's digital platform couldn't have come at a better time for shoppers seeking luxury goods at more accessible price points. Amazon will now become the place where you can order groceries, essentials and aspirational purchases. If luxury becomes accessible on the world's largest e-commerce platform, one has to wonder, will we ever need to shop anywhere else? This article was written by Emma Sutton-Williams, New York Post Commerce Writer/Reporter and resident fashionista. Emma is one of the best-dressed ladies in The Post's office, and also known for finding an unbelievable deal on any one of her stylish outfits. Divulging on everything from the most-popular and most-underrated purse brands to her honest thoughts on Kim Kardashian's Skims undergarments and apparel, Emma has cultivated an eye for style and an expertise for identifying the clothes and accessories worth your coin. At the same time, she proudly models the products she picks so you can see their fit and function first-hand. Emma has been creating shopping guides for The Post since 2024, and previously held bylines in Rolling Stone, Oprah Daily, Parents, InStyle, StyleCaster and more. Looking for a headline-worthy haul? Keep shopping Post Wanted.
Yahoo
29-01-2025
- Business
- Yahoo
New study reveals a jaw-dropping projection for one industry across Europe — here's what it means
A new study has found that the fast-fashion market is on a troubling trajectory in Europe, with an estimated compound annual growth rate of 7.5% from 2023 to 2030. Coherent Market Insights announced in a press release — via OpenPR Worldwide Public Relations — that it expects the European fast-fashion market to boom over the next five years. The firm said it considered popular brands like Mango, Forever 21, Topshop, and Zara, among others, in its report and analyzed the data based on factors such as the latest technologies, innovations, market trends, challenges, leading competitors, and more. After being valued at $41.93 billion in 2023, the market is projected to balloon to $69.56 billion by the end of the decade, the new study found. Fast fashion encourages overconsumption, leading consumers to buy more, which in turn causes more clothing to end up in landfills. The growth of fast fashion is concerning because it signals more pollution from the industry. Many popular companies have also given lip service to sustainable practices while continuing their polluting ways, making them seem more eco-friendly than they actually are. However, in reality, the fast-fashion industry is the second-most polluting worldwide, according to GENeco YTL Group. And with brands typically manufacturing items with plastic-based fabrics that don't stand the test of time — let alone a cycle in a washer and dryer — shoppers are wearing garments as few as five times, resulting in 400% more carbon pollution compared to apparel worn 50 times. Human rights advocates have also lambasted fast-fashion manufacturing processes, citing abysmal working conditions and unlivable wages. While fast fashion is on the rise, so too is a burgeoning secondhand sector. According to Credence Research, Europe's secondhand market is projected to be worth approximately $43 billion by 2032 — up from around $17 billion in 2023. What should the government do about the fast fashion industry? Set strict regulations Incentivize sustainable options Use both regulations and incentives Nothing Click your choice to see results and speak your mind. Promisingly, other studies indicate this European trend is a global movement. ThredUp's 2024 Resale Report estimates the worldwide secondhand apparel market will ultimately outgrow the traditional retail sector, reaching $350 billion in value by 2028. The burgeoning thrifting market provides hope for the planet, keeping perfectly good items out of landfills. It also helps put money back in consumers' pockets. Shopping secondhand only part of the time could net you an extra $100 every year. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
